China introduces its socio-economic tasks in 2016
(VOVworld) - The Communist Party of China has unveiled its major economic tasks for 2016, the first year of the country's 13
th Five-year Plan. According to a statement released after a meeting of the Party Political Bureau presided over by President Xi Jinping, China will focus on reducing housing inventories, allowing more migrant rural workers to get urban-residency permits, so that they could buy houses in cities.
Chinese President Xi Jinping (3rd L, back), also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, speaks during a meeting on the 13th five-year plan period (2016-2020) with leading officials from Shanghai, Anhui, Fujian, Jiangsu, Jiangxi, Shandong and Zhejiang in Hangzhou, capital of east China's Zhejiang Province, May 27, 2015. (Xinhua/Lan Hongguang) |
China should also increase the urbanization ratio, which is based on the number of registered urban residents. China will continue to promote mass entrepreneurship and innovation by relieving financial strain for companies. The government aims to improve the overall business environment by encouraging mergers, corporate restructuring while making it easier for bankruptcy registration.